CMS law firm advises on a transaction on the film market

CMS law firm is advising on the sale of the company Kino Świat, a leading distributor of films in Poland, to ITI Neovision S.A, the operator of the nc+ platform. Finalisation of the transaction is dependent on obtaining the consent of the Office of Competition and Consumer Protection. 

In accordance with the preliminary share sale agreement, ITI Neovision is to take over a controlling stake in the form of 70 per cent of the shares in Kino Świat, while 30 per cent will remain in the hands of Tomasz Karczewski and Marcin Piasecki who, as members of the company management board, will play an active role in managing and developing Kino Świat. 

The company Kino Świat, formed in 2001, is an independent film distributor. Productions distributed by Kino Świat include “Kler”, “Listy do M. 2”, and “Listy do M. 3”, “Pitbull. Ostatni Pies”, “Pitbull. Niebezpieczne kobiety”, “Zimna Wojna” and “Miasto 44”. 

The scope of work of the CMS team - led by Rafał Zwierz, head of Corporate and M&A practice at the law firm - covered comprehensive transaction advice, beginning with the stage of drafting key transaction terms and conditions together with the client, preparing drafts, and ending with negotiating the final provisions of the transaction documents. CMS lawyers also assisted the sellers with regard to labour law and competition law. 

The team working on the sale comprised: Rafał Zwierz, partner and attorney-at law, Magdalena Zmysłowska, advocate and senior associate, Marta Osowska – Buba, advocate, and Jakub Rykowski and Natalia Szurnicka, lawyers from the transaction department. Agnieszka Starzyńska, advocate and senior associate, also assisted with regard to antitrust law, while labour law issues were handled by Maciej Andrzejewski, advocate and senior associate, together with Michał Tutaj, lawyer. As regards security of the transaction, the team was supported by Mateusz Wiśniewski, associate from the banking and finance team.